Charles R. and Linda D. Wright v. Angela Banks, Assessor

The Wrights purchased their four bedroom, two and one-half bath, 4260 square foot home for $234,000 and quickly insured it for $332,500 on the advice of their insurance agent who, according to Mr. Wright, “used the same software that ... the Assessor’s Office used to determine value----” If this were not a clear indication that their purchase price did not reflect their home’s true and actual value, then surely the Assessor’s appraisal of their home at $372,400 for the prior tax year signaled its true and actual value. Nonetheless, the Wrights claim that the Assessor erroneously appraised…